COLUMBUS, Ga., Aug. 12, 2015 /PRNewswire/ -- In spite of
major changes in the health care landscape, small-business owners
looking to recruit and retain top employees still need to pay close
attention to their benefits offerings. According to the 2015 Aflac
WorkForces Report for Small Businesses released today by Aflac
(NYSE: AFL), the leading provider of voluntary insurance at the
work site in the United States, a
majority of workers employed in small businesses are willing to
consider a job with slightly lower pay but better benefits, while
half of potential job-changers say improving their benefits package
could keep them right where they are.
"The Affordable Care Act has enabled more Americans to obtain
health care benefits, but it has not reduced the overall costs or
the health care concerns of the majority of employees," said
Aflac Senior Vice President, Chief
Human Resources Officer Matthew
Owenby. "Offering robust benefits, including major medical
and voluntary insurance, remains an important factor for small
businesses to keep employees happy while increasing growth
opportunities."
Employees confirm role of benefits in job decisions
With the U.S. Bureau of Labor Statistics' July 2015
unemployment rate at 5.3 percent, small businesses realize the
battle for talent is getting tougher. As a positive sign of their
hiring ambitions, the Aflac study found more than one-third (34
percent) of decision-makers expect to hire full-time employees,
while 28 percent believe they will hire part-time employees in the
next 12 months. Continuing to offer benefits to recruit and retain
employees is important to meeting workers' preference for strong
benefits packages. According to the study:
- Almost 6 in 10 (59 percent) workers at small companies are at
least somewhat likely to accept a job with slightly lower pay but
better benefits;
- Nearly half (49 percent) of small-business employees who at
least somewhat agree they'll be looking for jobs in the next year
also say improving their benefits package is one thing their
employers could do to keep them in their jobs; and
- Almost 9 in 10 (87 percent) employees at least somewhat agree
they consider voluntary insurance to be part of a comprehensive
benefits program.
Small-business owners appear to be listening. While their top
business objective in 2015 continues to be controlling costs, the
2015 Aflac study found that the percentage of small-business
employers offering voluntary insurance to employees compared to
2014 has increased from 18 to 22 percent, a move that may be
leading to more satisfied employees.
Compared to those not offered voluntary benefits at work,
small-business employees enrolled in voluntary benefits are more
likely to be very or extremely satisfied with their jobs and their
overall benefits packages as well as are more likely to believe the
benefits package offered by their employer meets their family needs
well:
- 74 percent are very or extremely satisfied with their jobs (17
percent more than those not offered voluntary benefits by their
employer).
- 71 percent are very or extremely satisfied with the benefits
offered by their employers (48 percent more than those not offered
voluntary benefits at work).
- 73 percent report the benefits package offered meets their
current family needs very or extremely well (40 percent more than
those not offered voluntary benefits on the job).
"As competition for top employees heats up, employers know they
need to ante up when it comes to compensation packages. It seems
that health care benefits, both major medical and voluntary
benefits, are prime areas to upgrade in order to lure and hold onto
top talent," Owenby said.
To learn more about the latest benefits trends, visit
AflacWorkForcesReport.com, Aflac Small Business Blog or follow
@aflac on Twitter.
About the Aflac WorkForces Report
The 2015 Aflac
WorkForces Report is the fifth annual Aflac employee benefits study
examining benefit trends and attitudes. The study, conducted by
Research Now, captures responses by 1,977 benefits decision-makers
and 5,337 employees across the U.S. To learn more about the Aflac
WorkForces Report, visit AflacWorkforcesReport.com.
Methodology
Conducted by Research Now on behalf of
Aflac, the research contained two components – employer research
and employee research. The Employer Survey was conducted online
within the United States between
Jan. 26, 2015, and Feb. 11, 2015, among 1,977 benefits
decision-makers at companies with at least three employees. No
estimates of theoretical sampling error can be calculated; a full
methodology is available. The Employee Survey was conducted online
within the United States between
Jan. 23, 2015, and Feb. 11, 2015, among 5,337 adults ages 18 and
older who are employed full or part time at a company with three or
more employees and not retired. The first 3,076 interviews were
nationally representative and were weighted as needed to match U.S.
demographics and to enable year-over-year trending, while the
remaining 2,261 interviews were conducted among the top 20 U.S.
DMAs — approximately 100 interviews per DMA. No theoretical
sampling error can be calculated; a full methodology is
available.
About Research Now
Research Now is the leading global
online sampling and online data collection company. With more than
6 million panelists in 38 countries worldwide, Research Now offers
a full suite of data collection services. For more information,
please visit researchnow.com.
About Aflac
When a policyholder gets sick or hurt,
Aflac pays cash benefits fast. For nearly six decades, Aflac
insurance policies have given policyholders the opportunity to
focus on recovery, not financial stress. In the United States, Aflac is the leading
provider of voluntary insurance at the work site. Through its
trailblazing One Day PaySM initiative, Aflac U.S. can
receive, process, approve and disburse payment for eligible claims
in one business day. In Japan,
Aflac is the leading provider of medical and cancer insurance and
insures 1 in 4 households. Aflac individual and group insurance
products help provide protection to more than 50 million people
worldwide. For nine consecutive years, Aflac has been recognized by
Ethisphere magazine as one of the World's Most Ethical Companies.
In 2015, Fortune magazine recognized Aflac as one of the 100 Best
Companies to Work For in America for the 17th consecutive year.
Also, in 2015, Fortune magazine included Aflac on its list of Most
Admired Companies for the 14th time, ranking the company No. 1 in
innovation for the insurance, life and health category. Aflac
Incorporated is a Fortune 500 company listed on the New York Stock
Exchange under the symbol AFL. To find out more about Aflac and One
Day PaySM, visit aflac.com or espanol.aflac.com.
Media contact – Darcy Brito,
706.320.2358 or dbrito@aflac.com
Analyst and investor contact – Robin Y.
Wilkey, 706.596.3264 or 800.235.2667, FAX: 706.324.6330, or
rwilkey@aflac.com
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SOURCE Aflac